MCS 1000 Chapter Notes - Chapter 9: Market Segmentation, Non-Governmental Organization, Swot Analysis

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: Sergio Meza

Document Summary

Organization: legal entity of people who share common mission. Business firms: privately owned organization serves is customers in order to earn a. Non-profit organizations: non-governmental organization that serves its customers but. Profit: money left after a business firm"s total expenses are subtracted from its total does not have profit as an organizational goal revenue and is the reward the for risk it undertakes in marketing offerings. Industry: organizations that develop similar offerings when grouped together. Foundation of an organization"s marketing strategy is having a clear understanding of the industry. Must develop strategies to help focus and direct efforts to accomplish goals. The marketing department is part of the functional level in terms of strategy within an organization. Marketing accountability: responsibility for the systematic management of marketing resources and processes to achieve measureable gains in return on marketing investment and increased marketing efficiency, while maintaining quality and increasing the value of the corporation.